IoT Cloud Platform Market: Competitive Forces and Market Share Projections

IoT Cloud Platform Market Overview: 

The report provides the analysis of the global “IoT Cloud Platform Market” in depth with a focus on market dynamics, competitive scenario, regional growth, segment-wise analysis, and important growth strategies. The analysis covers a wide range of industry verticals as well as a thorough examination of the IoT Cloud Platform market size and share.

IoT Cloud Platform Market Report Scope and Research Methodology:

This research goes deep into demand projections, market trends, and both micro and macro variables. It also offers detailed insights into the factors propelling or limiting growth in the IoT Cloud Platform market. The report presents the MMR Matrix, which furnishes existing and potential market players with valuable information regarding investment possibilities. Analytical techniques like Porter’s five forces analysis and PESTLE have been applied to provide market insights for the IoT Cloud Platform market. Furthermore, the study examines ongoing market trends and forecasts for the years 2024-2030. Anticipated significant developments that could impact demand during this projected timeframe are also analyzed. The estimation of the IoT Cloud Platform market size was carried out using a bottom-up approach.

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Forecast for Market Growth:

IoT Cloud Platform Market size was valued at USD 8.64 Bn. in 2023 and the total revenue is expected to grow by 11.9% from 2023 to 2030, reaching nearly USD 19Bn.

IoT Cloud Platform Market Dynamics

Due in large part to the increasing rate of adoption of smart devices, the market for IoT cloud platforms is anticipated to rise at a rapid pace over the forecast period. Furthermore, it is anticipated that the market for IoT cloud platforms would expand faster because of the cloud data storage’s low cost and easy deployment.

The use of cloud services in many business sectors, which were previously very expensive to construct using on-site IoT architecture, is a major driving force behind the market expansion of IoT cloud platforms. IoT cloud platforms provide a number of benefits, including scalability, security, data mobility, fast time to market, and cost-effectiveness, which ultimately propel the industry’s expansion.

IoT Cloud Platform Market Regional Analysis:

The reports offer geographical insights that ensure readers have a comprehensive understanding of the IoT Cloud Platform market at a regional scale. To make informed evaluations of potential policy choices in the face of global market shifts, it’s crucial to possess a thorough grasp of regional energy dynamics, economic factors, political influences, and geographic nuances. This study furnishes readers with regional viewpoints regarding the IoT Cloud Platform market and the possibilities for local growth, along with the limitations specific to each geographical area.

1. Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
2. Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
3. North America (the United States, Mexico, and Canada.)
4. South America (Brazil etc.)
5. The Middle East and Africa (GCC Countries and Egypt.)

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IoT Cloud Platform Market Segmentation

by Offering

Platform
Device Management
Connectivity Management
Application Enablement
Service
Professional Services
Managed Services

The IoT Cloud Platform Market is divided into Platform and Services based on Offering. Device management, connectivity management, and application enablement are the three sub-segments that make up the Platform segment. All IoT and cloud operations-related duties, including collecting data from IoT-enabled devices and storing and analyzing that data to generate real-time insights, require the platform to be managed. The proliferation of IoT devices in many application domains is the primary catalyst propelling the growth of the platform segment of the market.

Managed services and professional services make up the two smaller segments of the service market. Over the projection period, managed services are anticipated to grow more quickly than professional services. managed services to assess the organization’s network, monitor the state of the infrastructure, and do remote repair assignments. These services increase productivity across the board for the organization by providing expert assurance and security. The increasing need to outsource services for the maintenance of IoT cloud platforms is anticipated to fuel the market need for managed services. Managed services help companies free up IT staff’s time to focus on mission-critical tasks by reducing their operational burden.

by Deployment Mode

Public Cloud
Private Cloud
Hybrid

The IoT Cloud Platform Market is divided into Public Cloud, Private Cloud, and Hybrid segments based on Deployment Mode. In 2023, the Public Cloud category had the biggest market share. A fair price structure, ease of deployment, and flexibility are the main factors driving the expansion of the public cloud market. A number of major economies, including the US, China, India, UK, Australia, and Canada, are likely to boost their investment in public cloud infrastructure, which will drive up demand for public cloud deployment techniques in the IoT cloud platform market.

by Application

Area Building and Home Automation
Smart Manufacturing
Smart Transportation
Connected Healthcare
Smart Retail
Smart Grid and Utilities
Others

The building and home automation, smart manufacturing, smart transportation, connected healthcare, smart retail, smart grid and utilities, and others are the application-based segments of the IoT cloud platform market. Over the course of the projection period, the Connected Healthcare segment is anticipated to increase at a quick rate. The expanding use of wireless devices in the healthcare industry, the accessibility of fast cellular networks, and the increasing use of embedded sensors are all factors contributing to the segment’s growth. Thanks to sensor and device connection, healthcare organizations may enhance real-time patient care, manage processes, and simplify clinical operations even from remote locations. Because of this, healthcare organizations are working hard to implement dependable apps and networked technology. Remote patient monitoring, prescription management, workflow management in healthcare, and medical.

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IoT Cloud Platform Market Key Competitors

1.Amazon Web Services, Inc. (US)
2.Microsoft (US)
3. Google (US)
4.Cisco Systems (US)
5.International Business Machines Corporation (US)
6.Oracle Corporation (US)
7. Salesforce, Inc (US)
8. PTC Inc (US)
9.Autodesk (US)
10.AT&T (US)
11. GE Digital (US)
12. Ayla Networks Inc (US)
13.GENERAL ELECTRIC (US)
14.KaaIoT Technologies, LLC (US)
15.ThingsBoard Authors (US)
16. Apple Inc (US)
17. HARMAN International. (US)
18. Hewlett Packard Enterprise Development LP (US)
19. Intel Corporation (US)
20.SAP SE (Germany)
21.Bosch Software Innovations GmbH (Germany)
22.Siemens (Germany)

Table Of Content

Part 01: Executive Summary

Part 02: Scope of the IoT Cloud Platform Market Report

Part 03: IoT Cloud Platform Market Landscape

Part 04: IoT Cloud Platform Market Sizing

Part 05: IoT Cloud Platform Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Key Questions answered in the IoT Cloud Platform Market Report are:

• What is IoT Cloud Platform?
• What are the current trends that may negatively impact the IoT Cloud Platform market?
• How will the major segments of this international IoT Cloud Platformmarket develop over the next few years?
• Who are the major players that are expected to dominate the IoT Cloud Platform market in the future?
• What is the growth forecast for IoT Cloud Platform market?
• Which region is expected to hold the largest IoT Cloud Platform market share?

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